Selbyville, Delaware, March 09, 2022 (GLOBE NEWSWIRE) -- As per the latest report by Global Market Insights Inc., the Baking Enzymes Market was estimated at USD 490 million in 2020 and is expected to reach a valuation of around USD 780 million by 2027, progressing at a CAGR of 6% through the forecast period. The report provides a detailed analysis of market size & estimations, drivers & opportunities, top winning strategies, competitive scenario, wavering market trends, and major investment pockets.
Baking enzymes find extensive usage in the preparation of bread, cakes, biscuits, doughnuts, and so forth owing to their health benefits and functional properties. They help in enriching the texture of the dough, crumb softness, and gas retention when making cakes and bread, which is set to push product uptake. Moreover, soaring consumer demand for superior quality food as well as improved color and texture and enhanced shelf life is anticipated to support market growth over the forecast period.
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Phytase food enzymes are consumed with low phytic acid contents commonly due to their ability to enhance mineral bioavailability features. They are extensively used in supplements of commercial phytase ingredients to increase volume and improve bread shape and crumb softness. Phytases also provide remarkable results in bread making since they improve nutritive value, reduce fermentation time, and enhance absorption of calcium and other minerals, which is likely to promote product demand. Driven by these factors, the phytases product segment is poised to grow at a notable pace to attain a valuation of over USD 70 million in 2027.
On the other hand, the proteases product segment accounted for a sizable share of around 22% in the baking enzymes market in 2020 and is expected to grow at considerable rate to accumulate the largest market share by 2027. Proteases are widely used as a dough conditioner in bakery products because they help modify dough rheology and handling qualities as well as enhance machinability, pliability, workability, and quality of finished products, which is primed to stimulate segmental adoption.
Key reasons for baking enzymes market growth:
- Surging utilization in bread making.
- Mounting product demand in Europe.
- Growing prominence in nutritional products.
- Rising application in making healthy baked goods.
2027 forecasts show ‘bread’ segment retaining its dominance:
In terms of application, the bread segment is foreseen to attain a sizable share in the baking enzymes industry by the end of 2027. Mounting adoption of breads in daily meat routines, coupled with the introduction of nutritional and healthier bread products, is speculated to impel product uptake. In addition, escalating consumer requirement for maintaining bread quality, enhancing dough stability, and ensuring proper browning of bread is projected to bolster segmental growth over the review timeline.
Europe to maintain top status in terms of revenue:
Based on region, the Europe baking enzymes market is estimated to reach a valuation of more than USD 230 million by 2027. The regional market is chiefly dominated by France, Germany, and Italy on account of major international cheese manufacturers that are bolstering product demand. Prominent demand for nutrition-rich and healthy variants of bread products, such as high fiber, whole grain, fortified, and gluten-free, is set to drive product demand in Europe. Additionally, hectic lifestyles and surging adoption of healthy diets are likely to facilitate regional market penetration in the coming years.
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Impact of COVID-19 pandemic on baking enzymes market:
The COVID-19 outbreak severely disrupted the global supply chain and altered consumption patterns owing to stringent lockdown restrictions imposed worldwide to inhibit the spread of the virus. Subsequently, there was an upsurge in consumer need for food products with extended shelf life and clean labels. As a result, rising awareness pertaining to the benefits of baking enzymes has fueled product adoption in recent years.
Leading market players
Key firms operating in the global baking enzymes market include Aumgene Biosciences, Danisco, BASF, Lumis, Enmex, Royal DSM, AB Group, Chr. Hansen, Advanced Enzymes, Enzyme Innovation, Hayashibara Co., Thermo Fisher Scientific, and Enzymes Solutions, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
